Pakistan interest rates
The SBP policy rate and corridor, market rates (KIBOR, T-bills, PKRV) and real interest rates.
Latest figures
- SBP policy rate — current rate & decision history: 11.50% (23 Jul 2026)
- KIBOR 3-month rate — daily since 2005 (SBP): 12.03% (26 Oct 2026)
- 3-month T-bill yield — auction cut-off (SBP): 12.00% (14 Oct 2026)
- PKRV 10-year yield — Pakistan govt yield curve, daily: 12.82% (22 Oct 2026)
- Real interest rate (policy rate minus CPI) — monthly: 1.20% (September 2026)
The State Bank of Pakistan's Monetary Policy Committee sets the policy rate, the anchor for every other rupee interest rate. Around it sits a corridor: banks can borrow overnight from SBP at the ceiling (reverse repo) rate and place surplus cash at the floor (repo) rate.
Market rates follow: KIBOR (the rate banks price loans against), the cut-off yields at government T-bill and PIB auctions, and the PKRV yield curve. The real interest rate — the policy rate minus CPI inflation — shows how tight policy actually is.
See also: KIBOR tracker
SBP policy rate
- SBP policy rate — current rate & decision history
- Interest rate history since 1956 (SBP policy rate)
- SBP reverse repo (ceiling) rate — interest rate corridor
- SBP overnight repo (floor) rate — interest rate corridor
- SBP policy (target) rate — every decision since 2015
- SBP repo rate — history since 2009
- SBP reverse repo rate — history since 1956
Market rates
- KIBOR 3-month rate — daily since 2005 (SBP)
- KIBOR 6-month rate — daily since 2005 (SBP)
- KIBOR 1-year rate — daily since 2005 (SBP)
- Overnight repo rate (weighted average) — daily
- 3-month T-bill yield — auction cut-off (SBP)
- 12-month T-bill yield — auction cut-off (SBP)
- 10-year PIB yield — auction cut-off
- PKRV 1-year yield — Pakistan govt yield curve, daily
- PKRV 10-year yield — Pakistan govt yield curve, daily
Real rates and spreads
- Real interest rate (policy rate minus CPI) — monthly
- Real 3-month KIBOR (KIBOR minus CPI inflation) — monthly
- 3-month KIBOR minus SBP policy rate (spread) — daily
- 3-month T-bill yield minus SBP policy rate (spread)
- Yield curve slope: 10-year minus 1-year PKRV
- Yield curve slope: 10-year minus 3-month PKRV
Questions
What is the current interest rate in Pakistan?
The SBP policy rate is 11.50%, in effect since 23 Jul 2026.
What is Pakistan's real interest rate?
The policy rate minus CPI inflation was 1.20 percentage points in September 2026 (PakDataHub's calculation from SBP and PBS data).
How often does SBP change the policy rate?
The Monetary Policy Committee meets several times a year on a published schedule; the series records the rate in effect after every decision.
Related topics
Every series here is official data from its publisher, updated as it is released, with the full history as JSON or CSV through the PakDataHub API. Get a free key or read the series endpoint docs.